The small island nation of Curacao, located off the northern coast of Venezuela, was one of the first jurisdictions to regulate online gaming, in 1996. This jurisdiction has been popular among online gaming providers ever since, due to the low costs of a license here, the favorable tax rates and the few restrictions imposed on the license holders.
The Curacao gaming licenses are issued by the Curacao Internet Gaming Association (CIGA), and around 30 different online gaming operators hold a Curacao gaming license today. There is only one gaming license available, and this license is for both skill games, chance games as well as sports betting. Both sub-licenses and so called master licenses (full licenses) are offered.
Curacao also offers many financial benefits for gaming companies who do decide to opt for their gaming license, such as no sales tax, a net corporate income tax rate of only 2%, no VAT and a well-established corporate environment with regards to gaming in particular, which is generally hard to find elsewhere.
In order for a gaming company to obtain a Curacao gaming license, several conditions have to be met by the applicant, such as:
Our lawyers can explain all the above mentioned requirements, as well as other requirements in detail, so that each client can understand if it would be possible for them to meet these requirements or not.
We also offer all services a client needs in order to set up and operate their company in Curacao, from company formation, obtaining the sublicense for gaming, introductions to suitable banks, should you need a bank account, and more.
In case the client is not sure Curacao is the best possible jurisdiction for them, the gaming lawyers at Porat Group can also present different alternatives to this specific jurisdiction to the client, as well as explain the advantages and disadvantages of each jurisdiction in detail, in order to help each client find the most beneficial jurisdiction with regards to gaming operations for them.